Himal Hub/ Ahead of Dashain, half a dozen banks are set to announce dividends. Everest Bank on Thursday proposed a 20% dividend from last fiscal year’s profit, including 6% bonus shares and 14% cash (tax inclusive), pending approval from Nepal Rastra Bank and its AGM.
The bank earned a net profit of NPR 4.91 billion in FY 2081/82, with distributable profit of NPR 4.95 billion, but decided to distribute only 20% dividend while retaining some reserves.
Meanwhile, Machhapuchchhre Bank has called its 27th AGM on Ashoj 10 in Pokhara, proposing 4% bonus shares and 4% cash dividend, along with issuance of NPR 3 billion worth of preference shares, amendments to its articles, and appointment of new directors.
Nepal Infrastructure Bank (NIFRA) has also proposed a 6.3158% cash dividend (tax inclusive) on its paid-up capital of NPR 21.60 billion, subject to central bank and AGM approval.
Other institutions including Sanima Bank, Citizens Bank, Kamana Sewa Bikas Bank, and Manjushree Finance are also preparing to declare dividends before Dashain. Most banks are currently in the process of securing preliminary or final approval from Nepal Rastra Bank following the completion of their audited financial reports.
